Ningbo Ronbay New Energy Technology said it is under investigation by China’s securities regulator following scrutiny of a recent major contract announcement involving CATL, the world’s largest producer of electric vehicle batteries.
Ronbay disclosed in a stock exchange filing on Monday that it received an investigation notice from the China Securities Regulatory Commission (CSRC) on January 18 over suspected misleading statements related to its disclosure of a major supply agreement. The company said it will cooperate fully with the investigation and that its business operations are continuing as normal.
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The investigation follows Ronbay’s January 14 announcement that it had signed a long-term lithium iron phosphate (LFP) cathode material procurement agreement with CATL. Under the agreement, Ronbay said it expected to supply about 3.05 million tonnes of LFP cathode material from the first quarter of 2026 through 2031, with total sales value estimated at more than RMB 120 billion ($17.2 billion). The company described the deal as the largest order disclosed to date in the lithium and battery materials sectors.
The size of the announcement prompted follow-up inquiries from the Shanghai Stock Exchange, which asked Ronbay to clarify annual capacity requirements under the agreement and explain how it planned to meet its supply obligations. In response, Ronbay said last week that the RMB 120 billion figure was an estimate and subject to uncertainty.
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In its latest response to the exchange on Monday, Ronbay reiterated that the contract value was not fixed and highlighted that it established a dedicated LFP division in September 2025 to consolidate research and development resources and strengthen group-level support for the business.
Source: CnEVPost